SCMG 232 Final Exam Questions and Answers Graded A+

SCMG 232 Final Exam Questions and
Answers Graded A+

define supply chain analytics - Correct answer-application of analytical methods in

supply chain

3 requirements for an optimization model - Correct answer-decision variables,

objective functions, constraints

optimal solution - Correct answer-considers all constraints to come up with optimal

solution

feasible solution - Correct answer-meets basic requirements within all the

constraints

prescriptive analytics - Correct answer-suggest best course of action based on a

prediction

predictive analytics - Correct answer-using historical data to understand what

happened

descriptive analytics - Correct answer-summarize past data to understand what

happened
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, example of predictive analytics - Correct answer-model predicts supply chain

disruption based on previous data

example of prescriptive analytics - Correct answer-solver to min/max costs OR

optimization models

What happens to holding cost when quantity increases? - Correct answer-Holding

cost also increases

What happens when HC = OC? - Correct answer-optimal

lead time - Correct answer-time it takes to move through the supply chain

IMPORTANT TO KNOW regarding demand in regards to EOQ: - Correct answer-

demand must be known and stable for it to apply to the EOQ model

IMPORTANT TO KNOW regarding h in EOQ model - Correct answer-ensure that

units of time match

what is procurement? - Correct answer-acquiring goods, services, and resources

from external sources to support an organization's operations and strategic

objectives.

Outsourcing Matrix: make or hybrid - Correct answer-low strategic importance,

high competency



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